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Charleston

Current Mortgage Rates in Charleston, West Virginia

Compare mortgage rates and fees for leading lenders in Charleston, WV. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Charleston.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Charleston. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Charleston, WV as of October 1, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Charleston, WV Mortgage Rates Compare?

October 1, 2020

The current average rate for a 30 year fixed rate mortgage in Charleston is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Charleston, WV Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Charleston, West Virginia?

Below we provide helpful information on the real estate market, home prices and housing affordability in Charleston. Understand how much you need to earn to afford a home in Charleston, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Charleston fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Charleston is right for you.

The median home value for Charleston, WV (Kanawha County) is $120,398

Based on current mortgage rates and a 10% down payment, you need to make $21,669 per year to buy the median priced home in Charleston

With this income, you could qualify for a $108,358 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Charleston is $502

The median household income for Charleston, WV (Kanawha County) is $49,419

Based on this income, you can afford a home valued at approximately $274,592

The home price you can afford to buy based on household income in Charleston is 228% of the median home value which means housing prices are affordable. Charleston (Kanawha County) ranks 29 out of 55 counties in West Virginia and 1,032 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Charleston, WV is affordable

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Loan Limits for Charleston, West Virginia

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Charleston (Kanawha County) below.

Conforming loan limits for Charleston, WV

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Charleston, WV

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Charleston, WV

1 unit: $510,400

Additional Mortgage Resources for Charleston, WV Residents

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